Mahindra and Embraer form $590 million joint venture for defense aircraft

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Mahindra Defence Systems has entered into a joint venture with Brazilian aerospace firm Embraer. The deal, valued at approximately 5,100 crore rupees ($590 million), was announced on Tuesday. The venture will focus on the development and production of the C-390 Millennium military transport aircraft for the Indian Air Force. This partnership aims to strengthen India's defense manufacturing capabilities under the 'Make in India' initiative.

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